Binance founder Changpeng Zhao (CZ) has refuted the Wall Street Journal’s (WSJ) claims regarding talks between the Trump family and Binance for a potential business deal.
The report suggested that Binance had been negotiating with Trump’s representatives to secure a pardon for Zhao in exchange for business interests. However, CZ has denied having any such conversations.
“The WSJ article got the facts wrong,” he stated.
CZ Disputes Pardon Deal Allegations
In his tweet, Zhao strongly rejected the notion that he had discussed a deal with the Trump family or anyone else about acquiring a stake in Binance.US.
He highlighted that the WSJ and other media outlets had approached more than 20 people to verify the details of such a deal. However, none could confirm it.
He noted that for 20 individuals to have informed him about WSJ’s inquiry, it suggests the media must have contacted hundreds of people. Zhao expressed frustration with what he described as an attempt by the media to “make a story” from unsubstantiated claims.
“I have had no discussions of a Binance US deal with… well, anyone,” Zhao confirmed.
Speaking on his reported desire to be pardoned by President Trump, the former Binance CEO stressed that no felon would mind a pardon, especially since he’s the only person in U.S. history to be sentenced to prison for a single BSA charge.
4. Sorry to disappoint. The WSJ article got the facts wrong.
More than 20 people have told me they were asked by the WSJ (and another media), "Can you confirm that CZ made some deal for a pardon?"
They probably asked hundreds of people to have 20 people reach out to me. In… https://t.co/ELyDPmKD3G
— CZ 🔶 BNB (@cz_binance) March 13, 2025
Zhao Suggests Anti-Crypto Bias Behind the Article
While Zhao denied any discussions of a pardon, he suggested that the WSJ article was part of a broader attack on President Donald Trump and the crypto industry.
He implied that the article reflected the lingering forces of the “war on crypto” from the former U.S. administration led by Joe Biden still at work.
Notably, Binance pleaded guilty in 2023 to violating anti-money laundering laws. In settling the charges, CZ stepped down from his CEO position, and the exchange paid a historic $4.3 billion fine.
The WSJ article suggested that Zhao’s conviction complicated Binance’s ability to operate in the U.S. and that a pardon would facilitate the company’s potential return to the American market.
It speculated that such a deal could open the door for Trump’s family to become more involved in the U.S. crypto market through their existing venture, World Liberty Financial.
However, Zhao’s outright denial casts doubt on whether any serious discussions took place between Binance and Trump’s representatives.
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